banking

TEST BANK FOR THE U.S. BANKING SYSTEM 3RD EDITION CENTER FOR FINANCIAL TRAINING 1. Money is a medium of exchange for people to use to trade things of value. a. True b. False ANSWER: True POINTS: 1 LEARNING OBJECTIVES: BNKG.CFFT.3.LO: 2.1.1 - LO: 2.1.1 2. A check is an example of bank currency. a. True b. False ANSWER: False POINTS: 1 LEARNING OBJECTIVES: BNKG.CFFT.3.LO: 2.1.1 - LO: 2.1.1 3. There was no form of paper currency in colonial America. a. True b. False ANSWER: Fal...

Which of the following is usually the most significant source of bank income? - Answer- Lending Function Which of the following loans is normally unsecured? - Answer- Credit Card At what stage in the lending process do banks obtain and evaluate all available information to determine creditworthiness? - Answer- Investigation Discrimination against prospective borrowers because of where they live is know as: - Answer- Redlining A loan that is not guaranteed by any type of collateral is...

BANKING TOPIC TEST A principal of $5,350 is placed in an account that earns 3.5% interest. If the interest is compounded annually, how much money will be in the account at the end of 4 years? a. $5,760.06 b. $5,537.25 c. $6,099.00 d. $6,139.25 - Ans D Approximately how much principal would need to be placed into an account earning 3.575% interest compounded quarterly so that it has an accumulated value of $68,000 at the end of 30 years? a. $23,706 b. $23,377 c. $52,069 d. $58,...

Banking Basics: Questions/Answers

The US Banking System 3rd Edition by Center for Financial Training Test Bank (Complete Test Bank Chapter 1-13 with Question Answers)

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Complete Test Bank with Questions Answers

Banking Test Questions With Answers What are the three main responsibilities of the Federal Reserve? - ANSWER 1. Provide and Maintain an effective payment system 2. Supervise and regulate banking operations 3. Conduct monetary policy Which type of financial institution typically has some sort of requirement to be a member? - ANSWER Credit Union Which type of bank account is typically the most liquid? - ANSWER Checking Account Compare/ contrast a checking acc...

BANKING TEST What are the three main responsibilities of the Federal Reserve? 1. Provide and Maintain an effective payment system 2. Supervise and regulate banking operations 3. Conduct monetary policy Which type of financial institution typically has some sort of requirement to be a member? - Credit Union Which type of bank account is typically the most liquid? - Checking Account Compare/ contrast a checking account and savings account. Which offers more interest? Which is easier to get ...